5 Good Dividend Stocks Yielding 5% or More

Buying stocks that pay high dividends is a good way to earn passive income. Many stocks in the market pay dividends, but if you want to have big dividends, you should look at stocks that yield 5% or more. The five stocks I present below are good-quality stocks that have dividend yields of 5% or more. TransAlta Renewables (TSX:RNW) TransAlta Renewables is a renewable power company based in Canada. TransAlta has paid a dividend since 2013 and has increased its dividend for three successive years. The stock is currently paying a monthly dividend of $0.0783 per share for a high…

To keep reading, enter your email address or login below.

Register by giving us your email below to continue reading all of the content on the site. Also receive a free Email Newsletter from the Motley Fool. (You may unsubscribe any time.)

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls.
I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.

Buying stocks that pay high dividends is a good way to earn passive income. Many stocks in the market pay dividends, but if you want to have big dividends, you should look at stocks that yield 5% or more.

The five stocks I present below are good-quality stocks that have dividend yields of 5% or more.

TransAlta has paid a dividend since 2013 and has increased its dividend for three successive years.

The stock is currently paying a monthly dividend of $0.0783 per share for a high yield of 8.9%. A monthly dividend is interesting if you need to live off your investments. The dividend has a five-year growth rate of 4.6%.

Laurentian Bank is the seventh-largest Canadian bank in terms of assets.

The bank has started paying a dividend in 1990 and has increased its dividend for the last 10 years.

Laurentian Bank currently pays a quarterly dividend of $0.64 per share for a yield of 6.1%. This dividend yield is higher than the yield of the six-largest Canadian banks, which have yields between 3.5% and 4.5%.

Laurentian’s dividend has a five-year and 10-year growth rate of 5.1% and 7.2%, respectively.

The bank’s stock has dropped more than 23% year to date. Laurentian has been hurt by a problematic mortgages issue that was revealed in December, but the situation has been resolved.

AltaGas is a diversified energy infrastructure company that operates through three segments: gas, power, and utilities.

The company has been paying dividends since 2010 and has been increasing its dividend for seven successive years.

AltaGas currently pays a monthly dividend of $0.1825 per share for a very high yield of 10.1%. The dividend has a five-year growth rate of 7.4%. The energy company expects to increase its dividend by about 8-10% through 2021.

Shares of AltaGas have dropped by 19% since the beginning of the year.

Cineplex started paying a dividend to shareholders in 2011 and has been increasing its dividend for six consecutive years.

The movie and entertainment company currently pays a monthly dividend of $0.145 per share for a yield of 5%. The dividend has a five-year and 10-year growth rate of 5.4% and 3.9%, respectively.

Cineplex’s stock has dropped by almost 6% since the beginning of the year but has gained 12% in the last three months. The company reported a very strong second quarter due to higher attendance at the box office.

Iain Butler has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his almost 20 years as a professional investor.

This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again.

Fool contributor Stephanie Bedard-Chateauneuf has no position in any of the stocks mentioned. AltaGas and Enbridge are recommendations of Stock Advisor Canada.

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.